(3 minutes read)
- Mobile money transactions in Kenya grew by 32% in 2021, according to data provided by the Central Bank of Kenya(CBK) in its recent report
- The increase is attributed to an upward movement in the use of cashless transactions by firms and households
- Safaricom’s M-Pesa, Airtel Money and Telkom’s T-Kash agents together handled KSh 6.8 trillion in the year 2021 as against KSh 5.2 trillion in 2020.
Mobile money transactions in Kenya grew by 32% in 2021, according to data provided by the Central Bank of Kenya(CBK) in its recent report. The increase is attributed to an upward movement in the use of cashless transactions by firms and households.
Safaricom’s M-Pesa, Airtel Money and Telkom’s T-Kash agents together handled KSh 6.8 trillion in the year 2021 as against KSh 5.2 trillion in 2020. This is an
increase of 31.7 percent. It is an indication that Kenya’s economy is gradually recovering from disruption caused by the COVID-19 Pandemic. There are negative signs in the horizon as foreign investors have left from Kenyan stock exchange. Some of them have delisted from the exchange.
Spread of omicron has had its impact on the economy. The recovery momentum of the economy Kenya’s capital markets was slightly interrupted in November 2021 upon announcement was disrupted, resulting in a reduction of 13.66% in foreign investor participation in the equities market from October’s 64.83% to November’s 51.16%.
